Five Park

Five Park is Miami Beach's tallest residential tower: 48 floors above South of Fifth, at the gateway to South Beach, with its own three-acre park and a pedestrian bridge linking it to the neighborhood. Just delivered by Terra and GFO Investments (Russell Galbut), it is a finished asset only now beginning to have a resale market of its own.

Designed by Arquitectonica with interiors by Gabellini Sheppard under Anda Andrei's direction, Five Park delivered in late 2024 and 2025 with 226 residences of two to five bedrooms, split between the Park Residences (floors 8 to 25) and the Canopy Residences (floors 27 to 48). At its base sits Canopy Park —three acres of public green— and the Canopy Bridge by artist Daniel Buren, crossing Alton Road to South of Fifth.

Because delivery is so recent, the secondary market is still thin: what shows today is a mix of first resales from original buyers and remaining developer closings. This page orders that —live inventory for sale and for rent, how to read value by line and floor, and the buying process— so you reach the offer with judgment, not paying the brochure premium.

What makes the building different

Five Park's value is not just being the tallest in Miami Beach: it is combining a South of Fifth tower with its own park and an amenity operation uncommon in the area. Among what defines the experience:

• Canopy Park and the Buren bridge three acres of public park at the tower's base, with a pedestrian bridge signed by artist Daniel Buren connecting straight to South of Fifth.
• Miami Beach's tallest tower 48 floors and 518 feet over South Beach: the Canopy Residences, floors 27 to 48, capture ocean, bay and city views hard to repeat in the area.
• ~40,000 sq ft of amenities a fifth-floor pool deck, a 26th-floor club, spa, gym, coworking, a café and pool bar, and short-stay guest suites for owners' visitors.
• Walkable South of Fifth South Beach's most coveted corner: restaurants, marina and beach steps away, with steady international demand and little new product.

How the value reads: view, floor and line

In a one-of-a-kind building, two units of the same size can be worth very different amounts. Three variables explain almost the entire price difference:

The view

Not every line is worth the same. The high-floor Canopy Residences —with open ocean and bay views— command the premium; the lower Park Residences trade below, though they are the way into the building. And since almost everything delivered at once, the first-resale price per foot sets the reference: before comparing prices, compare line, floor and exposure.

The floor

Price per square foot rises with height: more light, less obstruction and, on the high floors, the best view. The value jump between the mid-rise and the upper floors is usually larger than the square footage suggests.

The line

Each line —the stack of units sharing a position on the floor plate— has its own terrace and exposure. Knowing which line you're looking at, and its resale equivalent, is the difference between paying market and overpaying. This is where an advisor who knows the building adds real value.

The resale thesis

Buying a just-delivered resale, rather than preconstruction, changes the risk profile. Construction and delivery risk disappear: the building stands, the park has opened and the unit is physical, with real floor plan and view you can already walk. In exchange, you compete for still-scarce inventory and the price already carries the finished-product and brand premium.

The right question is not whether Five Park is good —it is, and it is the newest thing in Miami Beach— but whether the specific unit is well bought: price per foot against the building's first resales, the quality of the line and floor, and the margin against what that unit would ask in rent. For the investor dollarizing into a South Beach trophy asset with rental liquidity, a well-chosen unit combines novelty, scarcity and a location hard to replicate.

Five Park is one piece of the South Beach corridor; to see how the Miami Beach market moves and compare it against other towers, browse all residential inventory for sale on the hub.